BNP Paribas and Morgan Stanley, which jointly managed France Télécom's record-breaking corporate bond issue in March, have set another record with the French company in the equity-linked market.

France Télécom's €3.5bn ($3.1bn) convertible bond issue, launched Tuesday and priced a day later, is the largest ever for a European corporate. The deal comes seven months after the company launched the largest ever corporate bond, a $16.4bn issue, via a bookrunning group that included the same lead managers.